There are concerns that lower pricing will cause recent home buyers to be underwater - and potentially create another bubble to pop. A factor to consider when assessing the current market conditions is how quickly the affluent buyers have taken over the marketplace...
Yesterday a guy said he wasn't interested in anecdotal evidence and just wanted to see the data. But we were talking about the buyer demand in 2023, of which we have no data yet. In addition, the data we do have doesn't have to repeat itself or be a trend, because...
Next year, everyone will be talking about how mortgage rates in the 7s or 8s will be causing a lack of affordability, but I have bad news for those who still want to buy. There probably won't be many homes for sale. It will only take one or two headlines about the...
I've been hoping for 100+ sales per month the rest of the way this year. Currently, the October count is 108, so it should get up to around 120 sales by mid-November. Here are the monthly sales and pricing for 2022: NSDCC Detached-Home Monthly Sales & Pricing,...
The national bashing of the real estate market continues unabated, and I'm sure there are individual markets that are really feeling it. But real estate is local, so let's examine the facts. To get a sense of what has been happening since rates got into the 6s, let's...
Instead of using the median sales price as a gauge, let's look at the history of the median $/sf to help bring the size of the homes into the equation. Thoughts: I remember 2018 and 2019 being fairly flat and a bit of a struggle. Rates had been in the 3% to 4% range...
The number of NSDCC detached-home sales in September is up to 133 today, which is pretty good. There are only 138 pendings currently, but 34 sales have already closed in October so there is a decent chance that we'll have 100+ sales this month too! The...
For those who are willing to investigate the sales data in our local areas, here are the detached-home sales from the last 90 days. Poke around a little, and I doubt you'll believe that we're getting 'creamed'. [button link="https://www.zillow.com/homes/92008_rb/"...
Chris asked how the current environment compares to the 2008 downturn. In the summer of 2008, there were only 601 NSDCC sales between June 1st and August 31st, in spite of there being 1,348 listings that summer. For the next two years, the number of listings far...
The latest CPI number is out today, and the over-reaction will put more pressure on mortgage rates. They are probably going to be around the 6% range for the foreseeable future. Let's predict the NSDCC monthly sales count for the rest of the year. Today, we have 411...
